The digital marketing sector has seen tremendous growth globally, thanks to emerging technologies. The segment has become crucial for each industry to build, diversify, and expand its sales channels. It helps them reach their consumers in local and global markets.
It has helped brands to:
a)reach global consumer segments
b)build brand awareness at a global level
c)penetrate local markets and consumer segments
d)segment and target potential audience using data derived from technology
e)meet sales and business growth goals
f)improve their ROI ratio
g)increase social media engagement and numbers
Digital marketing as a tool has become a strategic component for brands to build their niche. It is known to be a faster and more cost-effective way of communicating with a wider audience. If we are to look at the stats, they showcase growth of the digital marketing sector in India, underlining the increasing use of digital platforms and marketing strategies:
– Expert Market Research reports that the Indian digital marketing market reached a value of US $ 5,118.55 million in 2023. And is further assessed to grow at a CAGR of 30/3% during 2024-2032, reaching a value of US $55,372.78 by 2032.
– ETBrandEquity mentions that the digital advertising spends in India reached INR 31,500 cr in fiscal year 2023 and is projected to reach INR 41,000 cr by FY2024.
Some of the Leading Marketing Trends in India
1.Video Marketing
Spending a lot of time going through multiple videos, shorts, or reels on your mobile screen?
Reels to YouTube videos and shorts, our community is attached to the moving visual content, and brands making use of this aggressively in India. Videos have become a powerful tool to touch base with customers. From short-form video marketing like reels on Instagram to long-form videos on YouTube as tutorials or podcasts, video marketing is here to stay. A chosen tool in India for marketing, brands prioritize video marketing to convey brand messages in a visually interactive manner. This increases customer engagement and helps to drive conversions.
Statista report brings out that ‘Ad spending in the Video Advertising market is projected to reach US $1.2bn in 2023 and US $1.6bn by 2026.’
2.Influencer Marketing
Following food bloggers to get inspired on what to cook next? Or a travel blogger to get inspired for your next vacation spot?
Influencers have become an essential part of digital marketing campaigns. Their ability to connect with the audience with ease, widespread reach, and their devoted audience offers brands great ways to market their products. Take this for instance: Uber, India, recently partnered with Vir Das, a famous Indian comedian with global reach. Vir Das made the video nitpicking the habit of fathers connecting it with how Uber Reserves allows the father to now book their rides in advance.
Zefmo, a marketplace connecting influencers with brands, projected via their report that India will have over 100 million content creators across multiple social media platforms by 2023, which will make it the largest base of influencers across the globe.
3.Sustainability marketing/purpose-driven marketing
Saw one of the brands promote their fully recycled use of packaging? Or plant-based products?
Several homegrown brands are using purpose-driven marketing to bring out their brand’s niche. This means they are underlining their brand’s increased focus on social and environmental impact. Consumers are becoming increasingly aware of the climate concerns and demand transparency in brands operations and practices Purpose-driven marketing strategies are building impressive brand image for homegrown brands.
4.Social commerce
When was the last time you clicked on Shop Now button on an Instagram ad?
Social commerce has become a sizable part of e-commerce ecosystems. Redefining the shopping experience for many Indians. Consumers from tiers 2,3 and 4 are known to respond well to social commerce. Social media giants like Snapchat, Instagram, Facebook, and WhatsApp have integrated features for brands to drive sales directly from their platforms. Making this an essential part of digital marketing efforts in the country.
In July 2023, Statista published a report highlighting that in 2022 India’s estimated market size of social commerce was $7 billion. And is expected to grow to $84 billion by 2030.
5.Voice Search Optimization
How many times did you search on Google using voice search? Or recently played a new song with a voice search for Amazon’s Alexa?
Voice search is an increasingly growing digital marketing trend. With growing gadgets that offer users access to voice assistants, brands are aiming to optimize their voice search. This helps them to be discoverable to their users who use voice search. Vernacular voice search is a key ingredient to success in India. For a diverse Indian market, vernacular voice search helps to improve voice search visibility and drive traffic to a brand.
Flipkart, an Indian e-commerce giant is leading the way in voice search in English and Hindi. Making sure it’s expanding its vernacular reach for voice search in the country.
Synup shares that 27% of searches on Google app are by voice and 1 billion voice searches occur per month.
6.AI and chatbots
Tried reaching a customer care representative and been directed to a chatbot to help you know more about a brand, its products, or about your order?
Emerging technologies are transforming digital marketing by the day. AI has helped to build chatbots that help brands build 24/7 interaction with customers. Answering their FAQs. Enhancing their overall user experience, answering customer queries, and streamlining customer support.
AI is further helping brands to build databases to segment their market base, make data-driven decisions, and manage the personalization of digital campaigns.
The above digital marketing trends have played critical role in businesses to streamline shopping experiences for consumers and driving sales by engaging the audience.
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